Match the items of List - II with the items of List - I relating to liberalisation of agricultural trade.

List – I

List – II

(a)

NAMA

(i)

Liberalisation of international
investments.

(b)

GATTS

(ii)

Includes industrial goods, textile,
jewellery, fish and fisheries
product manufacturing industries.

(c)

TRIMs

(iii)

Liberalisation of trade in goods
and services.

(d)

TRIPs

(iv)

Provides monopoly power to
owners of intellectual property.

Question

Question

This question was previously asked in

UGC Paper 2: Commerce July 2018

Answer 1

quesImage56

List - I	Answer
(a) NAMA	NAMA represents Non-Agricultural Market Access. This agreement refers to all the products not included in the Agreement on Agriculture. So in practice, it includes industrial goods, textile, jewelry, fish, and fisheries product manufacturing industries.
(b) GATTS	The GATT (General Agreement on Tariffs and Trade) is a trade agreement whose overall purpose was to promote international trade by reducing or eliminating trade barriers. The purpose of GATTS is a liberalization of trade in goods and services.
(c) TRIMs	The TRIMs (Trade-Related Investment Measures) recognizes that certain investment measures can restrict trade. The TRIMs are the rules which enable international firms to conduct business more easily in foreign markets. Thereby, giving them liberalization of international investments.
(d) TRIPs	The TRIPs (Trade-Related Aspects of Intellectual Property Rights) is a minimum standard agreement that allows more extensive protection of intellectual property to the member nations of WTO. In other words, it provides monopoly power to owners of intellectual property.

Therefore, it is clear from the above explanation that option 3) is the correct answer.

	List – I		List – II
(a)	NAMA	(i)	Liberalisation of international investments.
(b)	GATTS	(ii)	Includes industrial goods, textile, jewellery, fish and fisheries product manufacturing industries.
(c)	TRIMs	(iii)	Liberalisation of trade in goods and services.
(d)	TRIPs	(iv)	Provides monopoly power to owners of intellectual property.